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Thinking about buying or selling a home in West Michigan? It's crucial to grasp the current real estate scene. Knowledge of market trends and statistics equips you to make informed decisions on your journey. Analyzing elements such as home prices, inventory, and days on the market allows you to gauge competition, evaluate values, and plan pricing strategies effectively.
Looking for key insights? Let's dive into the essential details!
Saugatuck / Douglas
- Average list price was up 25.01% in December of 2023 ($1,234,293) vs December of 2022 ($987,316).
- There were 5 sold listings in December of 2023 down 50% from the 10 sold in December of 2022; number of pending listings was up 43% in December of 2023 vs 2022; and the number of new listings was down 11% with 8 in December 2023 and 9 in December of 2022.
Holland
- Average list price was up 9.50 % to $575,126, and average sale price was also up 21.04% to $431,927 in December 2023 vs December 2022.
- Number of sold listings was down 11% to 66, number of new listings was up 11% to 59 vs December of 2022 in Holland. Active listings were up 7% to 205 from 192.
Grand Haven / Spring Lake
- Average list price is down .95% to $694,952 in December 2023 vs December 2022.
- Number of active listings in Spring Lake and Grand Haven was up 3% to 163 in December 2023 vs December 2022.
As we step into the new year, the real estate scene continues to buzz with activity. The wintry atmosphere sets the scene for a bustling market of buying and selling homes. Yet, amid this lively setting, a familiar obstacle lingers: limited inventory. The consistent high demand surpasses the number of available homes, intensifying the competition among buyers. With fewer options, the quest for the perfect property becomes more demanding. Overcoming this hurdle necessitates strategic maneuvers from both buyers and sellers to swiftly secure desired homes or captivate potential buyers. Despite the challenge of limited inventory, the real estate market in the new year promises an exhilarating opportunity for those ready to take the leap forward.
Saugatuck / Douglas
8
New Listings
34
Active Listings
10
Under Contract
5
Closed Sales
Average Sale Price
Increased
23.32%
Vs December 22
$722,000
Average Sales Price
2.82
Months of Supply
36
Average Days on Market
$450.67
Average Price per Square Foot
Holland
59
New Listings
205
Active Listings
66
Under Contract
66
Closed Sales
Average Sale Price
Increased
21.04%
Vs December 2022
$431,927
Average Sales Price
1.79
Months of Supply
32
Average Days on Market
$256.54
Average Price per Square Foot
Grand Haven / Spring Lake
41
New Listings
163
Active Listings
44
Under Contract
42
Closed Sales
Average Sale Price
Increased
14.94%
Vs December 2022
$477,830
Average Sales Price
2.19
Months of Supply
26.5
Average Days on Market
$274.24
Average Price per Square Foot
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